Home / Business and Economy / NBCC Sells Delhi Towers for ₹5,191 Crore
NBCC Sells Delhi Towers for ₹5,191 Crore
1 Nov
Summary
- NBCC sold residential apartments spanning 8.80 lakh sq ft.
- The total sale value for the Avenue Towers apartments was ₹5,191 crore.
- Proceeds will fund Central Government redevelopment projects.
State-owned National Buildings Construction Corporation (NBCC) Ltd announced the successful sale of residential apartments located at Avenue Towers in Sarojini Nagar, New Delhi. The transaction, which involved approximately 8.80 lakh sq ft of residential space, garnered a total sale value of around ₹5,191 crore. This large-scale sale was conducted via an e-auction.
The proceeds from this significant real estate deal are designated to finance redevelopment projects undertaken by the Central Government. NBCC facilitated the sale of these government-marketed residential properties, earning a marketing fee of 1% of the total sale value.
The Avenue Towers, situated on Africa Avenue Marg, represent a substantial asset whose monetization will support government initiatives. While the identities of the buyers and individual apartment prices were not disclosed, the overall sale value highlights the scale of this transaction in the national capital.
